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Worries About a Squeeze
In Grain Supplies Subside

Fears that last year's March supply squeeze would repeat itself in the grain markets subsided somewhat Tuesday, traders said.

After remaining unusually high during the past week, the open interest in corn futures contracts dropped substantially in the first two days of the week, damping speculation that a squeeze was likely. On Monday, open interest, or the number of contracts remaining open in the corn contract, diminished by about 4,000 contracts, or 20 million bushels. Traders estimate that another 2,000 contracts were closed...